BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in iQIYI, Inc. (NASDAQ:IQ)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of iQIYI, Inc. (NASDAQ:IQ) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,200 shares of the company’s stock after buying an additional 10,700 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in iQIYI were worth $687,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC boosted its position in shares of iQIYI by 2.5% during the 4th quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after acquiring an additional 467,032 shares in the last quarter. Headlands Technologies LLC purchased a new position in iQIYI in the first quarter valued at approximately $741,000. American Century Companies Inc. raised its holdings in iQIYI by 36.2% during the second quarter. American Century Companies Inc. now owns 946,984 shares of the company’s stock worth $3,475,000 after purchasing an additional 251,813 shares in the last quarter. DNB Asset Management AS lifted its position in shares of iQIYI by 45.0% during the 2nd quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after buying an additional 11,679 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of iQIYI by 206.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,137,614 shares of the company’s stock valued at $4,812,000 after buying an additional 766,436 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

Wall Street Analyst Weigh In

IQ has been the topic of several research analyst reports. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and reduced their price objective for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and a consensus price target of $3.45.

iQIYI Stock Up 5.6 %

iQIYI stock opened at $2.83 on Monday. The stock has a 50 day moving average of $2.64 and a two-hundred day moving average of $3.74. iQIYI, Inc. has a twelve month low of $1.92 and a twelve month high of $5.80. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.49 and a beta of 0.05. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business earned $0.05 earnings per share. As a group, research analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current year.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.